Dublin, June 18, 2021 (GLOBE NEWSWIRE) -- The "Global Confectionery Market, By Type (Chocolate, Sugar Candy & Gum Candy), By Distribution Channel (Supermarkets/Hypermarket, Independent Grocery Stores, Others), By Region, Competition Forecast & Opportunities, 2016-2026F" report has been added to ResearchAndMarkets.com's offering.
The Global Confectionery Market is projected to grow at a CAGR of 4.85% during 2021-2026F to reach USD244.25 billion by 2026F on account of increasing demand for ready-to-eat products, as well as changing tastes and preferences of consumers while choosing the products.
The manufacturers are increasing the variety of products to meet the changing market demands by adding ingredients such as tropical fruits, nuts and organic herbal fillings and exotic flavors in product formulations. Moreover, factors such as rising population, emerging premium confectionery segments, and entry of various players are further fueling the confectionery market at the global level.
People like to celebrate festivals by gifting sweets. Moreover, today's generation prefers sugar-free chocolates or organic candies/chocolates over those unhealthy sweets. The confectionery industry is one of the synchronized and well-developed sectors among other sectors in the world and has become an attractive destination for investments and several large multinational companies are entering this market.
Consumption of chocolates led to increasing health issues such as weight gain, diabetes, and dental problems caused because of high sugar intakes. Therefore, consumers are shifting towards organic chocolates and candies. Organic products open opportunities for the confectionery sector. Organic chocolate is created using cocoa beans that have not been treated with synthetic fertilizers, herbicides, or pesticides. The reinforced efforts from manufactures to meet the demand for organic chocolates and candies in the market is expected to grow in the Global Confectionery Market over the coming years.
The Global Confectionery Market can be segregated into type, distribution channel and region. In terms of type, the Global Confectionery Market is divided into chocolate, sugar candy and gum candy. Out of which, the chocolate segment is dominating the Global Confectionery Market due to the continuous launch of innovative products supported by aggressive branding.
The adoption of premium chocolates and candies as gifts on festivals and functions is also growing considerably at the global level. In terms of distribution channel, the Global Confectionery Market is divided into supermarkets/hypermarkets, independent grocery stores, convenience stores/forecourt retailers, departmental stores and non-store retailing (online stores). Among which, supermarkets/hypermarkets held a major market share of around 26% in 2020 in the Global Confectionery Market.
Mondelez International, Mars, Incorporated, Ferrero Group, Nestle S.A., The Hershey Company, and others are the companies operating in the confectionery market.
A European company, Mars Incorporated, is leading the confectionery market around the globe. Mars, Incorporated has a primary target audience for all the business segments, and targets people of all age groups, from the lower class to upper-middle class.
Mars has a robust distribution channel throughout the world because it has many manufacturing units located around the globe. In March 2021, Mars Wrigley and Danimer Scientific, a leading developer and manufacturer of biodegradable material, announced a two-year partnership to develop an innovative home compostable packaging for a more sustainable planet.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F
Key Target Audience:
Manufacturers, distributors, and end-users
Market research and consulting firms
Government bodies such as regulating authorities and policymakers
Organizations, forums, and alliances related to confectionery
Global Confectionery Market, By Type:
Global Confectionery Market, By Distribution Channel:
Independent Grocery Stores
Convenience Stores/Forecourt Retailers
Non-Store Retailing (Online Store)
Global Confectionery Market, By Region:
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in the Global Confectionery Market.
Meiji Holdings Co., Ltd
The Hershey Company
Chocoladefabriken Lindt & Sprungli AG
Perfetti Van Melle Group
General Mills, Inc.,
Grupo Arcor S.A.
For more information about this report visit https://www.researchandmarkets.com/r/1fa5il
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